February Housing Starts in Halifax

HALIFAX, March 8 /CNW/ - New residential construction in Halifax increased last month compared to February 2009. According to Canada Mortgage and Housing Corporation's (CMHC's) preliminary data(1) released today for Halifax, there were 292 housing starts last month, more than double the 128 starts recorded in February 2009. Single starts increased from 22 to 80 units while multiple starts climbed from 106 to 212 units.

"In February, residential construction was supported by a high number of new rental apartment units starting construction in the HRM," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre. "Single-detached starts also saw a significant increase in February with the 80 single starts exceeding the ten-year monthly average of 60 units," Gilmore added.

In urban centres across Canada in February there were 10,361 total housing starts, 83 per cent more than the 5,660 starts recorded in February of 2009. There were 4,383 single-detached starts last month, an increase of more than 100 per cent compared to February of 2009. Multi-residential starts were up 69 per cent to 5,978 in February of 2010. In Atlantic Canada, there were 430 urban housing starts posted versus 272 the previous February, an increase of 58 per cent.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

    
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    (1) Figures for the most recent month are preliminary and subject to
        revisions due to corrections or updates from quarterly enumeration or
        sampling results.

    For more information, visit www.cmhc.ca or call 1 800 668-2642.

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                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                             NOVA SCOTIA SUMMARY
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                             2010    2009            YEAR-TO-DATE
                             ------------  % Change  ------------   % Change
                              FEB     FEB            2010    2009
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           ALL URBAN CENTRES WITH POPULATIONS GREATER THAN  50,000
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    HALIFAX CMA
    Single                     80      22       (XX)  135      64       (XX)
    Multiple                  212     106       (XX)  220     121      81,8%
    TOTAL                     292     128       (XX)  355     185      91,9%
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    CAPE BRETON RGM
    Single                      4       0         -    10       8      25,0%
    Multiple                    2       4     -50,0%    6      10     -40,0%
    TOTAL                       6       4      50,0%   16      18     -11,1%
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            ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
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    ALL CENTRES(X)
    Single                     98      31       (XX)  173      99      74,7%
    Multiple                  214     122      75,4%  230     145      58,6%
    TOTAL                     312     153       (XX)  403     244      65,2%
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    Figures for the most recent month are preliminary and subject to
    revisions due to corrections or updates from quarterly enumeration or
    sampling results.

    (X)  Includes all centres with a total population of more than 10,000
         (Halifax CMA, Cape Breton RGM, Truro CA, Kentville CA and
         New Glasgow CA, Chester MD CA, East Hants MD CA, Kings Subd. A
         SC CA, Lunenburg MD CA, Queens RGM CA, West Hants MD CA, Yarmouth
         MD CA).
    (XX) Indicates changes in excess of 100% which are not reported due to
         volatility resulting from small absolute numbers.
    

For further information: Matthew Gilmore, Senior Market Analyst, Canada Mortgage and Housing Corporation, [phone], [email protected]